They worked out a deal with the purchasing company where xdsl will eliminate all toxic debt, get filings current, and eliminate any legal issues before they agree to a deal. The company has managed to do all the above recently. The company was in default with the toxic debt, but settled the lawsuit by agreeing to pay $300k in exchange for the elimination of the loan. So the restricted shares would not be needed unless xdsl defaults on the $300k.
Based on the merger agreement, it looks like xdsl plans on paying the $300k after the merger takes place, but before the September deadline. So they may be up against a real time constraint.
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